INTRODUCTION TO BOOK-KEEPING AND ACCOUNTING : LSUS
FINANCIAL ACCOUNTING SSS1 FIRST TERM
WEEK 1
INTRODUCTION TO BOOK-KEEPING AND ACCOUNTING
Performance Objectives
Students should be able to:
- 1. Definition of Book-Keeping and Accounting
- Differences between Book-Keeping and Accounting
- Users of Accounting Information/Financial Statements
- Importance/Benefits of Book-keeping and Accounting
- History of Accounting/Book-Keeping
Contents
Book Keeping is the systematic recording of the daily financial transactions of an organization so that the financial position of a business can be readily ascertained or determined at any time.
Accounting is the act of recording, classifying, analyzing, summarizing, interpreting and communicating financial information of an organisation to various end-users of such information.
DIFFERENCES BETWEEN BOOK-KEEPING AND ACCOUNTING
- Book-keeping concentrates only on the routine recording.... View More
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- Chapters 7
- Category SSS1
- Author ClassNotes Edu
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